All three major US indexes were flat to bearish, with the Nasdaq leading the way down 1.16% in early trading on the last week of June, triggered by investor concerns that the Federal Reserve’s aggressive posture on interest rate policy will send the country’s economy into recession.
Federal Reserve Chairman Jerome Powell’s recent comments that interest rate hikes will continue this summer as they move to curb US Inflation (which is still far from their target of 2%); dominated sentiment last week and caused Wall Street’s major indexes to lose their winning week.
Global stock indexes fell and the U.S. dollar rose on Friday (23/06/23) as investors digested comments from Federal Reserve officials that signaled further interest rate hikes ahead.
Global stock indexes fell and the U.S. dollar rose on Friday (23/06/23) as investors digested comments from Federal Reserve officials that signaled further interest rate hikes ahead.
Wall Street Index closed mixed on Thursday (22/06/23) after US Federal Reserve Chairman Jerome Powell continue to beat a hawkish drum in front of the Senate Banking Committee and signaled that more interest rate hikes are likely in the months ahead, a sentiment echoed by Fed Governor Michelle Bowman earlier in the session.
The S&P 500 and the Nasdaq closed higher on Thursday (22/06/23) as US Federal Reserve Chairman Jerome Powell continue to beat a hawkish drum in front of the Senate Banking Committee and signaled that more interest rate hikes are likely in the months ahead, a sentiment echoed by Fed Governor Michelle Bowman earlier in the session.
Federal Reserve Chairman Jerome Powell calling for a further two rate hikes this year to push US inflation to the 2% target.
All three major US stock indexes slipped back into negative territory for the third consecutive day, with Nasdaq leading the way down 1.2%, after Federal Reserve Chairman Jerome Powell calling for a further two rate hikes this year to push US inflation to the 2% target.
Await the Federal Reserve chairman Jerome Powell’s testimony before Congress due tonight at 21.00 Western Indonesia Time and will be closely watched for clues on how strongly the head of US Central Bank stresses the need to resume rate hikes following a pause last week.
